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153
Jan 30, 2013
01/13
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who would leave his job to start a new business in that environment? okay. retail sales weren't that bad. but they nose dived right at the end of the quarter. retailers were afraid to restock inventory figuring that spending would drop off the cliff right along with the nation's finances. it was all in all a very bad time for our nation. now, overlay the storm of the century for the northeast. one that shut down the wealthiest area of the country for several weeks and caused what ultimately may be $100 billion in damage. you had the physical shutdown from the storm neatly and miserably dovetailing with the mental shutdown caused by washington. the result, the abysmal and artificially reduced gross domestic product number we saw today. most money managers are fixated on that top-down analysis. they look at those numbers, they care, they correctly detected the secession the business in this country was undergoing. they pulled in their horns because of it. some cases, dramatically. i understood it. say we came in to 2013 over the fiscal cliff. i would say the v
who would leave his job to start a new business in that environment? okay. retail sales weren't that bad. but they nose dived right at the end of the quarter. retailers were afraid to restock inventory figuring that spending would drop off the cliff right along with the nation's finances. it was all in all a very bad time for our nation. now, overlay the storm of the century for the northeast. one that shut down the wealthiest area of the country for several weeks and caused what ultimately may...
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30
Jan 29, 2013
01/13
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CNBC
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if you haven't reached out and grabbed this completely benign environment, you've really underperformed. if you look at the housing prices, the schiller index out here, we're at six-year highs, november to november. you have a place, as guy said, rates are telling you what's going on. you know what they called the two year note? >> the bunde-schad. this is telling you that even germany, which was the ultimate fight to quality, they were negative ten basis points. >> yeah, it is the regret rally, for anybody who missed last year, you got to chase it up at these levels. i can find 20 different reasons why the market should go down but it just doesn't. it keeps going up. a lot of it does appear to be cash coming into the market. the market isn't necessarily reacting to good or bad news. it is just mechanical. scares me a little bit. >> to brian's point. it is institutional asset allocation. one of the things that came out of davos was an analysis of where earnings are and the earnings yield for the overall market, relative to german bonds, u.s. treasuries, et cetera. 7% are in the market,
if you haven't reached out and grabbed this completely benign environment, you've really underperformed. if you look at the housing prices, the schiller index out here, we're at six-year highs, november to november. you have a place, as guy said, rates are telling you what's going on. you know what they called the two year note? >> the bunde-schad. this is telling you that even germany, which was the ultimate fight to quality, they were negative ten basis points. >> yeah, it is the...
104
104
Jan 28, 2013
01/13
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there will be questions about what, about the environment, leads them to these particular numbers. also question about strength in search and whether they'll continue to see that strength. and the relative weakness in display advertising versus what people have been expecting. seems like they were getting better pricing on display ads but a lot fewer of the ads appearing. i expect if that's due to a shift to smartphones where yahoo! doesn't have a lot of adds right now and if they expect to monetize that traffic soon. >> jon, thank you so much. keep us posted on the developments there. revenue came in at $520 million versus a consensus of about $554 million. where do you stand on yahoo! at this point, tim? >> i stand on based what they're going to do with their buy-back. this stock was up 18%. i think people are waiting on this and waiting to see how they can monetize the rest of the balance sheet. i don't see a whole lot of organic growth. i think melissa has done a great job trying to bring forth this value. i don't need to own this stock. i think these are the drivers, people ar
there will be questions about what, about the environment, leads them to these particular numbers. also question about strength in search and whether they'll continue to see that strength. and the relative weakness in display advertising versus what people have been expecting. seems like they were getting better pricing on display ads but a lot fewer of the ads appearing. i expect if that's due to a shift to smartphones where yahoo! doesn't have a lot of adds right now and if they expect to...
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177
Jan 31, 2013
01/13
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CNBC
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right, we experienced expansion when many others are feeling the pressure of the slow interest rate environment. we pulled a lot of levers in our liability side, lowered our cost of interest bearing deposits and liabilities and also grew loans, which has been helpful. >> we've been very bullish on "mad money" on the midwestern region because of the resurgence of manufacturing. you think some of your strength also comes from the fact where you're located? >> i will tell you absolutely this regional economy in the midwest and extending up into the northeast where we have a significant part of our franchise is what i was called first in to the recession and first out. we've seen industrial and manufacturing come back strong and we're well-positioned to not only blend into that but really capitalize on a wide range of opportunities there. so that has been a real growth area and a strength for us. >> okay. now this morning, bernstein research, in a piece i didn't care for but i wanted to get your response. they took key from a hold to a sell saying that it would probably be difficult for you to make
right, we experienced expansion when many others are feeling the pressure of the slow interest rate environment. we pulled a lot of levers in our liability side, lowered our cost of interest bearing deposits and liabilities and also grew loans, which has been helpful. >> we've been very bullish on "mad money" on the midwestern region because of the resurgence of manufacturing. you think some of your strength also comes from the fact where you're located? >> i will tell you...
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67
Jan 24, 2013
01/13
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FBC
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>> global warming is a real issue and what is the most of corn tissue of our time, the environment we live in. obviously we have to protect it. i think that is a possibility and probably something that may be effective. stuart: wouldn't do any good? >> if we could get bipartisan support, it could -- stuart: when it would lower carbon emissions in a miniscule, may be lower the temperature is your.1% over a longer period of time. it is just a fund of money. that is why -- that is what it is all about. >> those dollars would be used for other efforts to control and focus on changing climate. stuart: they would just fill government coffers with that the needed money. >> if that is the case they wouldn't be a good thing. stuart: when you are if in favor of carbon tax to raise money. >> i am not. i am in favor of it as a way of controlling, beginning to control global warming and giving resources to combat it. stuart: i want to bring you the answer to the quiz we brought you before the break. we asked who said this? i am quoting directly. i am so tired of hearing that the rich are not payin
>> global warming is a real issue and what is the most of corn tissue of our time, the environment we live in. obviously we have to protect it. i think that is a possibility and probably something that may be effective. stuart: wouldn't do any good? >> if we could get bipartisan support, it could -- stuart: when it would lower carbon emissions in a miniscule, may be lower the temperature is your.1% over a longer period of time. it is just a fund of money. that is why -- that is what...
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178
Jan 31, 2013
01/13
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CNBC
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in terms of the environment for a housing ipo, this could be a very good day. already, they had to increase the size of the offering they prize above the range, $17, putting the valuation of the company more than $500 million t is going to trade at the post right behind us, we will get the inside scoop on where this thing looks like it will open. >> california this is a california home builder, san francisco area. also southern. look, when you go to the website, they are selling them like hot cakes. >> single-family homes. >> what does that say? california home builder going public? >> my, how far we've come. >> pulte's down, jim. >> pulte is down, jim. >> thank you. thank you for that wet blanket. that wet electric blanket. >> a wet signed blanket. >> anything else you need me to tell you? >> whatever you want. >> speaking of housing, we are going to talk to fettig from whirlpool in the 11 this morning. pricing is getting better but volume is not matching at all what new homes are doing. >> surprising, low single digits, the companies make a lot of money. they
in terms of the environment for a housing ipo, this could be a very good day. already, they had to increase the size of the offering they prize above the range, $17, putting the valuation of the company more than $500 million t is going to trade at the post right behind us, we will get the inside scoop on where this thing looks like it will open. >> california this is a california home builder, san francisco area. also southern. look, when you go to the website, they are selling them like...
156
156
Jan 30, 2013
01/13
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CNBC
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eye 156
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i think that the low interest rate environment is not over for the long end of the market. i think that there's a possibility that we haven't even seen the low on the ten-year yield. you know -- >> what? >> a lot of stuff has to happen for that. >> nothing good. >> well, probably nothing good. no. i think we are reacting, you know, part of the -- one of the reasons that the market started it come down over the last few weeks was an interpretation of the minutes from the latest fed meeting that were taken as somewhat hawkish which i think was just a matter of a misinterpretation of the fed rather than the fed being hawkish. the fed in december did the most accommodative thing they have ever done. you know, they told us they'll be buying for some amount of time, $85 billion securities every month. and take the -- the balance sheet from the $2.9 trillion that it ended the year at, up, you know, annualized rate of an additional trillion. now the -- the key is the fed doesn't know how long that will go. it's tied to the progress in the labor market. but you know, i don't think t
i think that the low interest rate environment is not over for the long end of the market. i think that there's a possibility that we haven't even seen the low on the ten-year yield. you know -- >> what? >> a lot of stuff has to happen for that. >> nothing good. >> well, probably nothing good. no. i think we are reacting, you know, part of the -- one of the reasons that the market started it come down over the last few weeks was an interpretation of the minutes from the...
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144
Jan 29, 2013
01/13
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eye 144
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as i said at the outsaid, the environment is only getting tougher. to a certaindegree, yes, it is. >> when would you see empirical data suggesting that the tide is turning, though? i mean, would share -- i mean, would the end of share loss when it comes to the digital ad market, is that in the near future? >> no. i mean, look, google, it's growing somewhere between 30% and 40%. facebook around the same level. it's going to take a while for facebook to -- for yahoo! excuse me, to go from negative 5 to a positive. we think sometime by the end of this year, they may be flat to maybe slightly up. you know, we're not holding our breath on them growing as fast, or even faster than the industry as management continues to believe that they will be able to do. but in the meantime, we'll be looking at engagement to see month-to-month engagement, particularly on the mobile side. and also try to figure out or try to see the rollout of new products. that will be a precursor to them doing well over time. >> amazon, that's a big report we're all looking forward to
as i said at the outsaid, the environment is only getting tougher. to a certaindegree, yes, it is. >> when would you see empirical data suggesting that the tide is turning, though? i mean, would share -- i mean, would the end of share loss when it comes to the digital ad market, is that in the near future? >> no. i mean, look, google, it's growing somewhere between 30% and 40%. facebook around the same level. it's going to take a while for facebook to -- for yahoo! excuse me, to go...